# Operators Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Operators", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

From "Selling Cloud" to "Selling Token": Telecom Operators Fully Join the AI Battlefield

From selling cloud services to tokens, operators fully join the AI battlefield. Major Chinese telecom operators—China Telecom, China Mobile, and China Unicom—are launching AI token packages for personal, family, and enterprise use. This marks a shift from selling traditional services like voice and data to offering tokens as a new standard unit for AI service consumption. Operators are transforming into AI service integrators, moving beyond their role as cloud providers. They are building an integrated structure that combines models, computing power, applications, unified billing, and security. By bundling various AI models, pooling heterogeneous computing resources, developing industry-specific agents, and leveraging their existing billing systems, they aim to lower entry barriers and simplify AI adoption for businesses. The token model is becoming a key packaging method for AI services, moving beyond developer markets to the mainstream. Operators are positioning themselves as the essential infrastructure for the AI era, aiming to make AI a billable, manageable, and reliable utility similar to electricity or network services. However, challenges remain in ensuring model quality, cost reduction, and achieving sustainable commercial success. The ultimate goal is to make AI a measurable and scalable production factor for industries.

marsbit06/01 10:13

From "Selling Cloud" to "Selling Token": Telecom Operators Fully Join the AI Battlefield

marsbit06/01 10:13

Tiger Research: On-Chain Risk Operators, The Market Cap Gap Between 147 Trillion and 70 Billion

This report by Tiger Research examines the evolution of risk management in decentralized finance (DeFi) lending. It highlights a power shift from protocol developers to specialized professional risk operators who manage on-chain capital. The era of protocols and community governance solely dictating DeFi lending is ending. A new professional asset management layer has emerged. While the sector is nascent, capital and distribution channels are rapidly consolidating around top risk operator teams, whose past performance is now a key criterion for institutional entry. The industry's development, accelerated by modular infrastructures like Morpho, has led to a clear division of labor mirroring traditional finance: distribution channels (e.g., exchanges), strategy/risk management (the risk operators), and product infrastructure/asset custody (smart contract protocols). This structure lowers the entry barrier for traditional institutions. Currently, the total value managed by risk operators is approximately $70 billion, dominated by a few leading teams like Steakhouse (RWA focus), Sentora (AI models), and Gauntlet (crisis management). Competition now centers on collateral standards, distribution access, and crisis response capabilities. The report outlines three primary entry paths for institutions: 1) **Distribution Model**: Leveraging external risk operators as backend service providers (common for exchanges). 2) **Asset Supply Model**: Onboarding real-world assets to DeFi as collateral. 3) **Independent Operator Model**: Building an in-house team to become a risk operator (e.g., Bitwise). The core opportunity lies in the strategy/risk management layer, where traditional financial institutions can leverage their existing expertise in due diligence and risk assessment without deep technical development. A vast opportunity gap exists: the global traditional asset management industry manages ~$147 trillion, while the entire DeFi sector is only ~$800 billion, with the risk operator niche at ~$70 billion. This disparity signifies immense growth potential. Once robust risk frameworks and clearer regulations are established, even a minor allocation from traditional markets could trigger exponential DeFi growth. Early movers who help build these foundational systems will gain significant rule-setting influence and first-mover advantages.

marsbit05/20 07:40

Tiger Research: On-Chain Risk Operators, The Market Cap Gap Between 147 Trillion and 70 Billion

marsbit05/20 07:40

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